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State Trading Corporation Of India Ltd. Company History and Annual Growth Details

YEAR EVENTS
1956 - The Company was incorporated as a private limited company on 18th
May, 1956 and converted into a Public Ltd. Company on 31st
January 1992. The Corporation was formed to organise and effect
exports from and imports into India of all such goods and
commodities as it may from time to time determine.

- The company has been entrusted with purchase, import and
distribution of cement as well as purchase and sale of imported
cars. It also undertakes price support and buffer stock
operations in specific commodities as directed by Govt.

1959 - 1,00,000 shares subscribed for by the Govt. of India.

1963 - On 26th September, the State Trading Corporation was bifurcated
by the establishment of the Minerals and Metals Trading
Corporation of India, Ltd. The new Corporation took over all the
assets and liabilities pertaining to the minerals and metals
trade as on 1st October.

1969 - 3,00,000 bonus shares issued.

1975 - 5,00,000 bonus shares issued.

1977 - 2,00,000 bonus shares issued.

1978 - 3,00,000 bonus shares issued.

1992 - The Company was nominated by the Govt. of India as its agency for
sale of 47000 MTs of crude degumment solvent extracted soyabean
oil received under the auspicies of USAID.

- The Corporation entered into MOUs with a few selected industrial
houses for making available to the Corporation, their products
for exports. STC was to render their marketing assistance.

- A Trade Development Cell (TDC) was set up with the intention of
developing non-canalised trade including merchanting trade.

- Tea Trading Corporation of India Ltd. is the only subsidiary of
the corporation. The Cashew Corporation of India Ltd. (CCI),
wholly owned subsidiary of STC was merged with the Corporation as
per notification dated 21st April.

- The Corporation has introduced link, barter and parallel deals as
an instrument of export promotion to augment exports and arrest
the downward trend in the export of certain commodities to
specific destinations.

- Equity shares subdivided on 31.1.1992. 150,00,000 bonus shares
issued in prop. 1:1.

1993 - The Corporation sold the oil recently from crushing operations
under its own brand name 'Ragini' and 'Darpan'.

1994 - The Corporation entered into an agreement with COMARK, a
multistate cooperative federation of about 3000 coffee growers
for handling their entire exports and part of domestic marketing.

- As on 31st March, the Corporation, had disinvested 23,93,200
shares to various Mutual Funds/Financial Institution comprising
9% of the equity capital of the Corporation.

- The Corporation decided to enter into joint venture in order to
develop captive supply source for exports. Five projects in the
area of core competence viz. acquaculture, footwear, mushrooms,
and bio-technology were identified.

1995 - With a view to developing captive sources supply for exports, the
Corporation entered into joint ventures with two aqua culture
units - Bluegold Maritech International Ltd. & Richfield Aquatech
Ltd. Also, the Corporation finalised three more joint ventures
two in the field of grey fabrics and one in mushrooms involving a
total investment of Rs 4 crores.

1996 - The STC ventured into import of gold/silver and export of
jewellery in terms of present export/import policy. It has set
up vaults at New Delhi, Mumbai & Ahmedabad.

- The Company entered into a MOU with Srilanka Pharmaceuticals
Corporation (SPC) Colombo by which STC would act as the modal
agency for their purchases of drugs and pharmaceuticals from
India.

- Another MOU was entered into with Haffkeme Bio Pharmaceuticals,
Mumbai by which STC would act as the sole exporting arms of all
Haffkeme products especially serums and vaccines; A distributor
was appointed at Turkey for serums and vaccines manufactured by
Haffkeme.

2002

-STC ties up with Power Finance Corporation to reduce the end cost of power.

2003

-STC appoints Mr A S Arora, AS&FA, Minitry of Commerce as Part time Director on the
board of the company.

2005

-STATE Trading Corporation of India Ltd (STC) has signed a MoU with the Commerce Ministry for 2005-06 to indicate its physical targets and other performance parameters for the next fiscal.

2006

-Govt permits STC to export 1.5 lakh t sugar

-STC to roll out regional brands

2008


-The Company has issued Bonus Shares in the Ratio of 1:1.

2010

- State Trading Corporation of India Ltd has informed BSE that Government of India, Ministry of Commerce and Industry, Department of Commerce Vide its order dated January 13, 2010 has appointed Shri P. K. Chaudhery, Additional Secretary, Department of Commerce as Director on the Board of STC with immediate effect vice Shri R. Gopalan.
 
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